Ron Paul made the Fed an issue, the first since 1913 when it first came into existence. When you have 8000 college kids from Berkeley chanting ‘End the Fed’ then you know something’s coming, and the people have the right to question its authenticity, primarily; the lack of it. It’s a very dangerous institution. Does only evil, only harm to America and the whole world. The more we’re able to focus and discuss about auditing it, looking at all the bailouts the European banks, the American banks, the more we scrutinize they’re doing, the better off we are towards the cause of freedom and the cause of economic prosperity.

Politicians will respond to public pressure. When the public talk about economic troubles, they’re always talking about the Fed as the Fed is the source of all our economic troubles, not the Congress or the Senate or the Presidency, nor the Supreme Court. The Fed is the foundation of all our economic troubles here in Europe as well and I’m afraid we’re looking forward towards a global depression.

Quote:

“It is time for the Federal Reserve to face a thorough audit of its monetary policy and lending operations. The Fed’s purchases of dubious assets from favoured Wall Street institutions; its lending of hundreds of billions of dollars to foreign governments and central banks; and the prospect of further quantitative easing and European bailouts underscore the critical need for transparency” - Ron Paul

An audit would reveal where the money is going, how much money they’re creating - they’ve created Ron’s probably understated but trillions of dollars to the European banks, certainly trillions of dollars went to the U.S banks. We’d like to know how much do they create, how much in affect money do they counterfeit, who receives it, what are the terms, who are their favoured boys in the banking industry here and around the world. And their secrecy, they don’t want us to know that they own all the gold but they don’t want to let anybody look at it. They don’t even want it to be counted; they don’t want the bars to be assayed, they don’t want especially in the investigation of who actually owns it. There are some questions about this about whether it’s foreign central banks or if the Fed really owns the gold as they claim. All those kinds of questions should be investigated; they should be open to a whole transparency and investigation. They should not be allowed to do everything in secrecy lie a criminal gang but of course they are a criminal gang because that must be why they desire secrecy.

The qualitative abusing meaning the inflation; when the Federal Reserve pushes interest rates below the natural level, well of course now they’re almost at zero – when that happens it brings on the business cycle because it causes business people to make all sorts of investments that sound like a really great idea at the time but when the bubble bursts turns out into disaster because this is of course the story of 2007-2008 and many other booms and busts the Fed creates ; it creates recessions and depressions that’s the worst thing the Fed does and so they can actually put us into a global depression in cahoots with the European central bank and the Bank of Japan – their partners in crime so it threatens everything, it threatens everybody’s economic future, it threatens our children’s economic future, it threatens our grandchildren I mean this could go on for an exhaustingly long time the hole that they’re putting us in and yet they’re immune from being questioned – they’re never to be touched, they’re never to be inquired into. And Bernanke and company should just be able to do whatever they want in a secret room in cahoots with big banks and we’re not allowed to know. Well we have the right to know, we have a need to know. If we care about the economy, if we care about all our economic futures and in having prosperity and not living in poverty, we need to know what the Federal Reserve and its friends in the banking industry are doing to us. And of course the purpose is to stop them from doing this.

The idea that the Federal Reserve is meant to be politically independent is complete eyewash as it’s not politically independent as a famous statement by Arthur Burns who was Richard Nixon’s Chairman of the Fed and a very bad man who was questioned about the fed made a hilarious statement. He said ‘look, the Chairman of the Fed has to do what the President wants or else we’d lose our independence’. Now what the independence means is that they all get to live it up, the whole government lives it up, but live up to an incredible and unbelievable extent and determine their own expenses and so forth so that’s what they mean and it’s not actually independent of the rest of the government. The Federal Reserve is of course a political organization. All it cares about is politics, its entire concern is nothing but politics and my view of Bernanke is, whatever he says; believe the opposite.

The matter of the fact is, the Fed needs oversight the notion that this organization – maybe the Chairman of the Fed in certainly economic and financial matters the most important and powerful guy in the whole world; why should he be allowed to do whatever he wants in cahoots with Goldman Sachs and J.P Morgan and the Bank of America and the rest of them? Why does he get to do that to the American people, the people of Russia, the people of Europe, people of whole Latin America, Asia – the people of the whole world? What kind of nonsense is this? Of course he needs oversight, of course he needs transparency, and of course we need to know; who’s getting the dough. We all know congress is getting the dough. We all pretty much know that the President’s getting the dough. How come the fed can put out far more money than the Congress or the Presidency? Much more money and yet it’s all meant to be highly secret. The only reason they want to keep it secret is because what they’re doing is criminal. What they’re doing would embarrass them and that’s why we need to know it and why we need to stop it. Congressman Paul’s attempt to advance and pass his ‘Audit the Fed’, I believe the House will pass it, the Senate won’t pass it as they’re in the pocket of the Fed and of course Obama is in the pocket of the Fed. And so the Senate won’t pass it and president Obama won’t sign it but no doubt Ron has made great advances and we’re seeing this in the change in the minds of young people’s thinking and calling for, we’re going to see some great things ahead and the Fed criminals outta be scared in the marble palace of the Fed and outta be shaking in their striped pants!